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...Alan Simpson and Erskine Bowles, co-chairs of Mr Obama’s 2010 bipartisan fiscal commission, have also suggested big changes to the deduction, converting it to a 12 per cent tax credit that would be less...
...This structure is what former president Ronald Reagan used in the last significant US tax overhaul in 1986 but Mr Schumer said this “gold standard” was “past its prime”, given America’s yawning deficits....
...Alan Simpson and Erskine Bowles, co-chairs of the commission, on Wednesday proposed slashing the headline corporate tax rate from its current level of 35 per cent to 26 per cent, in a move that has long...
...It helps that the commission’s co-chairs, Democrat Erskine Bowles and Republican Alan Simpson, are determined to break the current gridlock, in which conservatives refuse to consider raising taxes while...
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